Business and corporate documents come in many shapes and sizes. Without any restriction on the scope discussed herein, computers are often used to assist in the creation and management of documents, spanning from simple documents such as newsletters and emails, to very complicated documents such as SEC compatible corporate finance filings (10 ks, etc.). Depending on the document at issue, a very sophisticated computer system may be selectively programmed to assist in the creation of a document, to manage the corrective confirmation of the document contents, update the document as needed at designated intervals, and finally submit and/or distribute the document in accordance with its intended purpose.
Computer systems play a critical role in the management of documents under the regulation of the Securities and Exchange Commission (“SEC”). Specifically, on Wednesday, Dec. 17, 2008, the U.S. Securities and Exchange Commission (SEC) approved a final rule implementing the mandated use of XBRL (Extensible Business Reporting Language) for EDGAR (Electronic Data Gathering Analysis and Retrieving) submissions. The final rule phases in use of XBRL-based submissions for collecting financial reporting information over a period of four years, eventually impacting all domestic and foreign SEC reporting companies. The need to quickly and accurately provide XBRL compliant documents has placed a significant burden on corporations in managing this process. In addition to this, many non-financial document types are created by clients from a wide spectrum of backgrounds, businesses and resources. To meet the needs of these diverse clients, a flexible document management system, accessible through one or more discrete channels is needed. The following technology has been developed to address this (and other) needs.